Worst day on Wall Street since 1987 as virus fears spread

Coronavirus

NEW YORK (AP) – The stock market had its biggest drop since the Black Monday crash of 1987 as fears of economic fallout from the coronavirus crisis deepened.

The Dow industrials plunged more than 2,300 points, or 10%. The sell-of came despite action from the Federal Reserve and the European Central Bank.

The steep drops over the last month have wiped out most of the big run-up on Wall Street since President Donald Trump’s inauguration.

Markets have turned turbulent amid a cascade of shutdowns across the globe and rising worries that the White House and other authorities around the world can’t or won’t help the weakening economy any time soon.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories